Finally it seems that the bear flag is breaking down in gold's hourly chart.
MACD crossed over.
The 1210 Zone will be tested again probably.
MACD crossed over.
The 1210 Zone will be tested again probably.
Note
MARUBOZU candlestick in the breakdown.Note
... and hourly minimumNote
I would like to warn those who were using the RSI strategy in gold. It was working nicely till now. If gold breaks down and prints a strong and fast drawdown the RSI strategy will make loss. I would wait while it breaks below 1200 and start to use the RSI strategy from 1170-1180 $ from the oversold levels with a long.Note
Note
We are back in the flag again...This bull is not giving up easily.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.